No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
from Irish80 in another thread: "Capitol One uses the Fico 04 model, not 08" (source) so that may be one reason. Utilization could also be a factor. I'd say pay down your balances and try again. YMMV.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
@Creditbuilder36 wrote:
It's been a year since I've had both my Quicksilver one and Platinum card (which they have converted into the Quicksilver one card ) So I decided to go online and hit the love button for the increase granted my limits are a bit high but seems like they checked an old Equifax score and denied my increase I'm almost positive my score has gone up since a year ago so I'm thinking could it be the high balances ? Hmm not sure
I think Capital One is actually changing its standards.
Yes they do use FICO4, which in my case is always much lower than my FICO8, but I think there's more to it than that.
I've been with Capital One for 4 years now, and for the first 2 or 3 years they were very generous, granting me 2 cards and letting me move on up to 5 cards, and granting me CLI's even if I didn't ask for them.
During the last year they seem to have gotten very stingy about it, even though my scores are around 100 points higher than when I started with them.
Also I heard that they've implemented a new policy of not approving any new account if the applicant got a card from Capital One during the previous 6 months.
I'm guessing that the "risk reduction" folks have finally won out over the "marketing and business development" folks within their organization, and probably it's going to stay that way for a good long while now.